H.C. Wainwright Remains a Buy on Bioxcel Therapeutics Inc


H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Bioxcel Therapeutics Inc (NASDAQ: BTAI) today and set a price target of $25. The company’s shares closed yesterday at $9.03.

Selvaraju noted:

“Valuation methodology, risks and uncertainties. We utilize a discounted cash flow (DCF)-based assessment, which yields a total rNPV of $335M for for BXCL701. We thus derive a total enterprise value of $455M, which translates into a price objective of $25.00 based on 18M fully-diluted shares outstanding as of mid-2019.”

According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -1.9% and a 38.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Bioxcel Therapeutics Inc with a $20.40 average price target.

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Based on Bioxcel Therapeutics Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.28 million. In comparison, last year the company had a GAAP net loss of $542K.

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BioXcel Therapeutics, Inc. is a clinical stage biopharmaceutical company focuses on drug development. The firm’s two clinical development programs are BXCL501, a sublingual thin film formulation designed for acute treatment of agitation resulting from neurological and psychiatric disorders, and BXCL701, an immuno-oncology agent designed for treatment of a rare form of prostate cancer and for treatment of pancreatic cancer. The company was founded by Vimal D. Mehta on March 29, 2017 and is headquartered in Branford, CT.

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